The stimulus package recently passed in the U.S. Senate features several bankruptcy provisions, including an increase in the eligibility threshold to file under subchapter V of chapter 11, according to a press release from the American Bankruptcy Institute.
The American Bankruptcy Institute announced that it will cancel its annual spring meeting. The meeting was scheduled for April 23-25 in Washington, D.C, but will not go on as “conditions have worsened exponentially.”
Total commercial chapter 11 filings in February 2020 decreased 20% over the same period last year, according to Epiq Systems, but Amy Quackenboss, executive director of the American Bankruptcy Institute, projects a future increase in filings due to the COVID-19 pandemic.
Total bankruptcy filings during calendar year 2018 decreased 2% from 2017, according to the American Bankruptcy Institute from data provided by Epiq Systems.
Due to risks surrounding the vulnerability of patients, healthcare bankruptcies present government agencies with a unique set of challenges and responsibilities, according to a December ABI Journal article.
According to data provided by Epiq Systems, commercial chapter 11 filings increased 50% in November 2018 over November of last year, though total bankruptcy filings experienced a 2% decrease year over year.
Robert J. Keach, co-chair of ABI’s Commission to Study the Reform of Chapter 11, praised the introduction of bipartisan legislation to provide a viable option for small businesses looking to reorganize under the Bankruptcy Code.
Commercial chapter 11 filings increased 75% in October 2018 over October of last year, according to data provided by Epiq Systems on behalf of the American Bankruptcy Institute.
While some lawyers may be leery of or intimidated by artificial intelligence tools, a panel of experts has demystified the technology and described the ways in which it can expand the legal services market. Karim Guirguis and John Hartgen recap a recent American Bankruptcy Institute panel discussing the role of artificial intelligence in bankruptcy.
The American Bankruptcy Institute reported a total of 306 commercial Chapter 11 bankruptcies for the month of June 2018, a 49% decrease from the 601 commercial Chapter 11 filings in June 2017.